MIAMI, June 04, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE: PFLT) announced that as result of expanded lender partner relationships, it has upsized its credit facility, led by Truist Bank (the "Credit Facility") to $611 million from $436 million. Pricing on this facility remained unchanged at SOFR plus 236 basis points. "We are appreciative of the support from all of our existing lending partners and pleased to have expanded our relationships. Their support highlig ...

MIAMI, June 04, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE: PFLT) declares its monthly distribution for June 2024 of $0.1025 per share, payable on July 1, 2024 to stockholders of record as of June 14, 2024. The distribution is expected to be paid from taxable net investment income. The final specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the end of the calendar year and in the Company's periodic report filed wit ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION (Mark One)r ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO COMMISSION FILE NUMBER: 814-00891 PENNANTPARK FLOATING RATE CAPITAL LTD. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organizati ...

EXHIBIT 99.1 PennantPark Floating Rate Capital Ltd. Announces Financial Results for the Quarter Ended March 31, 2024 MIAMI, May 08, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) announced today its financial results for the second quarter ended March 31, 2024. HIGHLIGHTS Quarter ended March 31, 2024 (Unaudited) ($ in millions, except per share amounts) | Assets and Liabilities: | | | | --- | --- | --- | | Investment portfolio | $ | 1,477.9 | | Net assets | $ | 720.7 | | GAAP n ...

PennantPark Floating Rate Capital (NYSE:PFLT) Q1 2024 Earnings Conference Call February 8, 2024 9:00 AM ET Company Participants Arthur Penn - Founder, Chairman & Chief Executive Officer Richard Allorto - Chief Financial Officer Conference Call Participants Brian McKenna - JMP Paul Johnson - KBW Mickey Schleien - Ladenburg Mark Hughes - Truist Securities Vilas Abraham - UBS Operator Good morning and welcome to the PennantPark Floating Rate Capital's First Fiscal Quarter 2024 Earnings Conference Call. Today's ...

WASHINGTON, D.C. 20549 FORM 10-Q (Mark One)r ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED DECEMBER 31, 2023 OR UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO COMMISSION FILE NUMBER: 814-00891 PENNANTPARK FLOATING RATE CAPITAL LTD. (Exact name of registrant as specified in its charter) MARYLAND 27-3794690 (St ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2023 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO COMMISSION FILE NUMBER: 814-00891 PENNANTPARK FLOATING RATE CAPITAL LTD. (Exact name of registrant as specified in its charter) (State or other jurisdiction of inc ...

PennantPark Floating Rate Capital (NYSE:PFLT) Q4 2023 Earnings Conference Call November 16, 2023 9:00 AM ET Company Participants Art Penn - Founder, Chairman & CEO Richard Allorto - CFO Conference Call Participants Ryan Lynch - KBW Mickey Schleien - Ladenburg Maxwell Fritscher - Truist Securities Operator Good morning, and welcome to the PennantPark Floating Rate Capital's Fourth Fiscal Quarter 2023 Earnings Conference Call. Today's conference is being recorded. At this time, all participants have been plac ...

PennantPark Floating Rate Capital (NYSE:PFLT) Q3 2023 Earnings Conference Call August 10, 2023 9:00 AM ET Company Participants Arthur Penn - Founder, Chairman & Chief Executive Officer Richard Allorto - Chief Financial Officer Conference Call Participants Paul Johnson - KBW Vilas Abraham - UBS Mark Hughes - Truist Operator Good morning, and welcome to the PennantPark Floating Rate Capital's Third Fiscal Quarter 2023 Earnings Conference Call. Today's conference is being recorded. [Operator Instructions] It i ...

[PART I. CONSOLIDATED FINANCIAL INFORMATION](index=3&type=section&id=PART%20I.%20CONSOLIDATED%20FINANCIAL%20INFORMATION) This section presents the company's consolidated financial statements and related disclosures [Item 1. Consolidated Financial Statements](index=4&type=section&id=Item%201.%20Consolidated%20Financial%20Statements) This section presents the unaudited consolidated financial statements for PennantPark Floating Rate Capital Ltd. as of June 30, 2023, and for the three and nine months then ended [Consolidated Statements of Assets and Liabilities](index=4&type=section&id=Consolidated%20Statements%20of%20Assets%20and%20Liabilities) As of June 30, 2023, total assets were **$1.18 billion**, a decrease from **$1.22 billion** at September 30, 2022 Consolidated Balance Sheet Summary (in thousands, except per share data) | Metric | June 30, 2023 | September 30, 2022 | Change | | :--- | :--- | :--- | :--- | | Total Investments (Fair Value) | $1,105,265 | $1,164,254 | -5.1% | | Total Assets | $1,183,223 | $1,223,866 | -3.3% | | Total Liabilities | $574,796 | $696,774 | -17.5% | | Total Net Assets | $608,427 | $527,092 | +15.4% | | Net Asset Value per Share | $10.96 | $11.62 | -5.7% | [Consolidated Statements of Operations](index=5&type=section&id=Consolidated%20Statements%20of%20Operations) For the three months ended June 30, 2023, total investment income increased **46.6%** year-over-year to **$37.7 million**, driven by higher interest income Operating Results Summary (in thousands, except per share data) | Metric | Three Months Ended June 30, 2023 | Three Months Ended June 30, 2022 | Nine Months Ended June 30, 2023 | Nine Months Ended June 30, 2022 | | :--- | :--- | :--- | :--- | :--- | | Total Investment Income | $37,713 | $25,729 | $103,603 | $76,699 | | Total Expenses | $19,211 | $13,906 | $54,626 | $40,773 | | Net Investment Income | $18,502 | $11,823 | $48,977 | $35,926 | | Net Realized/Unrealized Loss | $(12,909) | $(16,908) | $(37,762) | $(19,334) | | Net Increase (Decrease) in Net Assets | $5,593 | $(5,085) | $11,215 | $16,592 | | Net Investment Income per Share | $0.36 | $0.29 | $1.02 | $0.90 | | Net Increase (Decrease) in Net Assets per Share | $0.11 | $(0.12) | $0.23 | $0.42 | [Consolidated Schedules of Investments](index=8&type=section&id=Consolidated%20Schedules%20of%20Investments) As of June 30, 2023, the company's total investment portfolio had a fair value of **$1.105 billion**, down from **$1.164 billion** at September 30, 2022 Portfolio Composition by Investment Type (as of June 30, 2023, in thousands) | Investment Type | Fair Value (in thousands) | % of Total Investments | | :--- | :--- | :--- | | First Lien Secured Debt | $950,244 | 86.0% | | Second Lien Secured Debt | $149 | <0.1% | | Preferred Equity | $12,930 | 1.2% | | Common Equity/Warrants | $91,727 | 8.3% | | Equity Interests in PSSL | $50,216 | 4.5% | | **Total Investments** | **$1,105,265** | **100.0%** | Top 5 Industry Concentrations (as of June 30, 2023, % of portfolio excluding cash) | Industry Classification | Percentage of Portfolio | | :--- | :--- | | Media | 8% | | Personal Products | 8% | | Professional Services | 7% | | IT Services | 7% | | Commercial Services & Supplies | 6% | [Notes to Consolidated Financial Statements](index=22&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) The notes detail the company's organization as a BDC, significant accounting policies including investment valuation methodologies, and related-party agreements - The company's investment objective is to generate current income and capital appreciation by investing primarily in floating rate loans to U.S. middle-market private companies. At least **80%** of managed assets are expected to be in floating rate loans, with at least **65%** of the portfolio in first lien secured debt[50](index=50&type=chunk) - The company utilizes a multi-step valuation process for illiquid investments, involving its Investment Adviser, independent valuation firms, the audit committee, and the board of directors to determine fair value in good faith[63](index=63&type=chunk)[68](index=68&type=chunk) - The Investment Adviser earns a base management fee of **1.00%** of average adjusted gross assets and a two-part incentive fee based on pre-incentive fee net investment income and realized capital gains[90](index=90&type=chunk)[91](index=91&type=chunk)[94](index=94&type=chunk) - As of June 30, 2023, the company had **$150.3 million** in unfunded commitments to portfolio companies and zero remaining unfunded commitment to its PSSL joint venture[167](index=167&type=chunk) - Subsequent to quarter-end, the company issued **3.2 million** shares via its ATM Program for **$35.2 million** in net proceeds and increased its Credit Facility commitment by **$20 million** to **$386 million**[170](index=170&type=chunk)[171](index=171&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=43&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial performance, portfolio activity, and liquidity [Portfolio and Investment Activity](index=45&type=section&id=Portfolio%20and%20Investment%20Activity) As of June 30, 2023, the portfolio totaled **$1.105 billion** across 130 companies, with a weighted average yield of **12.4%**, up from **10.0%** at September 30, 2022 Portfolio Summary | Metric | June 30, 2023 | September 30, 2022 | | :--- | :--- | :--- | | Total Portfolio Value | $1,105.3 million | $1,164.3 million | | Number of Companies | 130 | 125 | | Weighted Avg. Yield on Debt | 12.4% | 10.0% | | % First Lien Secured Debt | 86% | 87% | | Non-Accrual (at cost) | 1.0% | 0.9% | - For the nine months ended June 30, 2023, the company invested **$231.0 million** in 13 new and 63 existing portfolio companies. Sales and repayments totaled **$258.1 million**, including **$121.2 million** of sales to the PSSL joint venture[201](index=201&type=chunk) [Results of Operations](index=48&type=section&id=Results%20of%20Operations) For the three months ended June 30, 2023, investment income rose to **$37.7 million** from **$25.7 million** year-over-year, driven by higher portfolio yields - The increase in investment income for the three and nine months ended June 30, 2023, was primarily due to a higher cost yield on the debt portfolio and a dividend from the Dominion Voting Systems equity investment[236](index=236&type=chunk) - The increase in expenses was primarily driven by higher financing costs on debt liabilities and a rise in performance-based incentive fees resulting from higher pre-incentive fee net investment income[237](index=237&type=chunk) - For the nine months ended June 30, 2023, the company reported a net change in unrealized depreciation on investments of **$22.0 million**, primarily due to the operating performance of portfolio companies and changes in capital market conditions[241](index=241&type=chunk) [Liquidity and Capital Resources](index=49&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity is sourced from operations, investment repayments, and debt and equity financing - As of June 30, 2023, the company's asset coverage ratio was **210%**, compared to the minimum required **150%**[245](index=245&type=chunk) Debt and Liquidity Summary (as of June 30, 2023) | Facility | Total Size/Principal | Outstanding | Unused Capacity | | :--- | :--- | :--- | :--- | | Credit Facility | $366.0 million | $64.4 million | $301.6 million | | 2023 Notes | $138.6 million (original) | $76.2 million | N/A | | 2026 Notes | $185.0 million | $185.0 million | N/A | | 2031 Asset-Backed Debt | $301.4 million (original) | $228.0 million | N/A | - During the three months ended June 30, 2023, the company raised **$64.1 million** in net proceeds by issuing **5.8 million** shares through its ATM Program[263](index=263&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=57&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is primarily exposed to interest rate risk, as **100%** of its debt portfolio consists of variable-rate investments, while its borrowings also have variable components - As of June 30, 2023, **100%** of the company's debt portfolio consisted of variable-rate investments, making its income sensitive to changes in interest rates like SOFR[296](index=296&type=chunk) Annualized Impact of Hypothetical Interest Rate Changes (in thousands) | Change in Interest Rates | Change in Net Interest Income (in thousands) | Change in Net Interest Income Per Share | | :--- | :--- | :--- | | Down 1% | $(7,182) | $(0.13) | | Up 1% | $7,182 | $0.13 | | Up 2% | $14,364 | $0.26 | | Up 3% | $21,545 | $0.39 | | Up 4% | $28,741 | $0.52 | [Item 4. Controls and Procedures](index=57&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were effective as of June 30, 2023 - A material weakness related to the timely transmission of portfolio company financial information to independent valuation service providers, identified in the fiscal year 2022 10-K, has been remediated[300](index=300&type=chunk) - Management concluded that as of June 30, 2023, the company's disclosure controls and procedures were effective at a reasonable assurance level[301](index=301&type=chunk) [PART II. OTHER INFORMATION](index=58&type=section&id=PART%20II.%20OTHER%20INFORMATION) This section provides additional information including legal proceedings, risk factors, and other disclosures [Item 1. Legal Proceedings](index=58&type=section&id=Item%201.%20Legal%20Proceedings) The company reports that neither it, its Investment Adviser, nor its Administrator is currently subject to any material legal proceedings - The company, its Investment Adviser, and its Administrator are not currently subject to any material legal proceedings[304](index=304&type=chunk) [Item 1A. Risk Factors](index=58&type=section&id=Item%201A.%20Risk%20Factors) This section highlights a specific risk concerning cash balances held by the company and its portfolio companies at financial institutions, which may exceed federally insured (FDIC) limits - A key risk factor is that the company and its portfolio companies may hold cash balances at financial institutions in excess of FDIC insurance limits, exposing them to potential loss in the event of a bank failure[306](index=306&type=chunk) - Adverse developments in the financial services industry, such as liquidity constraints or instability, could significantly impair the company's and its portfolio companies' access to funding and credit[307](index=307&type=chunk)[308](index=308&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=59&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) There were no unregistered sales of equity securities during the period - None[310](index=310&type=chunk) [Item 3. Defaults Upon Senior Securities](index=59&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) There were no defaults upon senior securities during the period - None[311](index=311&type=chunk) [Item 5. Other Information](index=59&type=section&id=Item%205.%20Other%20Information) The company states that none of its officers or directors have adopted or terminated any Rule 10b5-1 trading arrangements - No officers or directors have adopted or terminated any Rule 10b5-1 trading arrangements[313](index=313&type=chunk) [Item 6. Exhibits](index=60&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the report, including CEO and CFO certifications and Inline XBRL documents